A brand must have clear purpose and live by it in order to retain loyal customers. Brand purpose and loyalty. Today I’d like to share a short story about how easy it is to shatter loyalty when a brand’s behaviour does not live up to publicised purpose. It’s a story about a lost bag, that led to lost loyalty because of the brand’s lost purpose.
Why is this important? Because in 10 years, it’s predicted that 40% of the Fortune 500 companies will no longer exist as things that were once scarce become abundant. Technology, data and infrastructure are no longer scarce. They are accessible to the masses. Tomorrows winners are those that can differentiate on providing customer experiences to live the up to the brand purpose. All day, everyday. Here’s how not to do it.